Arab for Development and Real Estate Investment Co. held an extraordinary general meeting in which shareholders approved a capital top-up from EGP 26.5 million to EGP 29.7 million.

The capital increase will be effected through the distribution of bonus shares at 12-for-100. The company posted net profits of EGP 2.7 million for 2014, compared with EGP 963,700 the previous year.

Arab Development is capitalised at EGP 26.5 million, distributed across 53 million shares at EGP 0.5 par value each.